More than 9BIL USD spent on import of animal feed raw materials More than 9BIL USD spent on import of animal feed raw materials

More than 9BIL USD spent on import of animal feed raw materials More than 9BIL USD spent on import of animal feed raw materials

Vietnam spent 9.07 billion USD to import nearly 22.3 million tonnes of raw materials for animal feed production in 2021, according to the Ministry of Agriculture and Rural Development (MARD)’s Department of Livestock.

Hanoi (VNA) – Vietnam spent 9.07 billion USD to import nearly 22.3 million tonnes of raw materials for animal feed production in 2021, according to the Ministry of Agriculture and Rural Development (MARD)’s Department of Livestock.

The department also reported at a conference to discuss solutions to promoting pig breeding and strengthening the management of animal feed production and business held by the MARD on March 18 in Hanoi that due to the impact of the COVID-19 pandemic and especially the recent Russia-Ukraine conflict, the prices of many raw materials for animal feed production have increased strongly.

Notably, the price has increased by about 29.3 percent for corn, 33.4 percent for soybean oil, 23.1 percent for cornmeal, and 49.5 percent for wheat.

The department forecast that the prices of raw materials will remain high to the end of this year.

Tong Xuan Chinh, vice director of the department, said Vietnam currently produces only 35 percent of animal feed, and the rest depends on imports, he added.

So far, Vietnam’s livestock sector has made up 25.2 percent of GDP of the agricultural sector.
More and more Vietnamese and foreign enterprises have invested in the development of animal husbandry production and food processing chains, including Masan, Dabaco, Tan Long, Truong Hai, Hoa Phat, CP, Deheus and Japfacomfeed.

Source: VNA